Ever wondered why you are hooked to your favorite streaming video or music app, and online shopping channels? They are driven by artificial intelligence algorithms which continuously recommend the next movie to watch, the next gadget to buy based on learning from interactions with their services and creating a custom behavior profile. myautoIQ’s AI engine provides similar capabilities for your auto customer engagement and acquisition.
myautoIQis built around a proprietary Artificial Intelligence (AI) engine. The AI engine provides intelligence, in the form of predictions, recommendations, and scoring for the full auto-customer journey, from acquisition to engagement to retention. myautoIQ enables you to address key acquisition and engagement problems like:
How do I identify the 20% highest potential leads from the hundreds that I received today?
How do I find 50 most likely luxury mid-size import SUV buyers from potential 50,000 auto customers in the neighborhood?
I have 50 customers coming for service today. Which of them is a potential new car buyer?
Amongst thousands and potentially millions of your dealership or OEM brand customers, who is likely to start a car buying journey, what price range are they considering and what kind of car are they likely to buy next?
A customer has walked into the showroom. How I get the intelligence to engage the customer based on their needs and preferences?
While what we are doing may appear to be rocket science, it is a simple and well-established approach for personalizing customer engagement in the online world of shopping and streaming sites; the key difference is the use of offline data and AI-models for the needs of auto-customer interactions and engagement.
The first step for myautoIQ's AI engine is to create a clean, unified big dataset across various customer elements which help us build behavior profiles of the entire US auto-buying population. myautoIQ consumes millions of raw data points, including demographics, lifestyle, behavioral, shopping, manufacturer, industry, vehicle preferences, vehicle specs, and industry valuations data.
The next step is to create a customer and vehicle persona for every type of make & model of the vehicle based on the big data and find the key factors and life events that drive the customer auto decisions.
We then create proprietary AI-models to predict, recommend, and score every auto customer machine using the unified bigdata. Our AI-models use everything from simple statistical algorithms to machine learning and recommender algorithms to deep learning algorithms and neural networks.
Once the AI-engine and big data are ready, myautoIQ SaaS platform components query the engine in real-time through APIs, with the customer or lead data to get predictions, recommendations, and scores needed for business decisions.
The business results and outcomes are sent back to the AI-engine through SaaS platform and offline uploads. The AI-engine uses the results to learn and improve so that its next prediction and recommendation cycle is even better.
Want to discuss the specific problem that you want AI to solve? Or want to have a conversation regarding AI influencing auto customer engagement? Nothing excites us more! We would love to connect. Fill out this form with a summary of what you want to discuss, and we will be in touch with you as soon as possible.